Dogecoin Outpaces Bitcoin with 180% Post-Election Boom. When $1?In a much-wow fashion, Dogecoin DOGEUSD broke out of the pack with a 180% post-election rally. It did way better than Bitcoin BTCUSD . But what’s really behind the speculative gains and is there more room for growth? Like, say, can Dogecoin hit $1? It’s a possibility. Let’s dig into it.
We’ve all heard about Bitcoin BTCUSD — the orange coin that shook up the fabric of global financial markets and rewired how we think about money and investments. But a small yet mighty cryptocurrency is befriending the small yet ambitious trader.
Dogecoin DOGEUSD , the people’s digital asset and Elon Musk’s favorite coin, has posted some howling returns after Election Day vaulted Donald Trump to the top job in American politics. The Shiba Inu-themed coin has soared 180% since November 5, outperforming the big guy Bitcoin with its 30% rise for the same time span.
How did that happen? It’s mostly Elon Musk and his lofty aspirations for Dogecoin. “Supporting Doge wherever possible,” the Tesla boss said back in 2022. Conveniently placed front and center for the meme-loving crowds, this iconic meme token is easy to scoop up in boatloads, empowering retail investors with a feeling of accomplishment. Dogecoin’s price was last seen floating near 40 cents, up from 15 cents before the election result.
Bitcoin, on the other hand, is priced at just under $90,000 , powering higher in a record-setting run, and that makes it look much less affordable and less likely to appeal to retail traders. But looking at the plain price tag is misleading without factoring in the market cap, which shows you how much the token is worth.
In Dogecoin’s case, the 40 cents translate to something big. It’s no joke. Even though the sole purpose of Dogecoin was to be a joke. Back in 2013, Dogecoin was created as a satirical homage to Bitcoin. But if that coin back then had a puppy-like valuation of a couple millions, today it’s a $60 billion unleashed beast that's ready to chew up and spit out your portfolio. It holds about 2% dominance of the overall crypto market cap and it's worth more than Ford F , which churns out annual revenue of $180 billion and boasts a 121-year history.
Now digital-asset enthusiasts, especially the Dogecoiners around, are pinning their hopes on the iconic duo in the making — Donald Trump and Elon Musk. The two billionaires have apparently teamed up for the good of the crypto industry. Long story short — traders are betting on a crypto boom under President-elect Donald Trump.
And Dogecoin might get pulled into the mix. Elon Musk has already openly stated he’d be happy to get involved with politics. But not just any politics. DOGE politics. And it’s official — Trump said late Tuesday he’s tapping Elon Musk to lead a new department aptly called Department of Government Efficiency, or DOGE. The Tesla CEO will be joined by Republican presidential candidate Strive Asset Management co-founder Vivek Ramaswamy.
“I am pleased to announce that the Great Elon Musk, working in conjunction with American Patriot Vivek Ramaswamy, will lead the Department of Government Efficiency (“DOGE”),” Trump said in the announcement , posted on his social media platform Truth Social.
The duo is teaming up to “pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” the President-elect added.
All actions of the Department of Government Efficiency will be posted online for maximum transparency,” Musk said on his X platform . “Anytime the public thinks we are cutting something important or not cutting something wasteful, just let us know! We will also have a leaderboard for the most insanely dumb spending of your tax dollars. This will be both extremely tragic and extremely entertaining 🤣🤣”
Given Musk’s unfaltering devotion to Dogecoin, it’s not unrealistic to predict a function for his beloved token in the newly-whipped-up department. In this context, a $1 price tag, according to many crypto faithful, might actually come to fruition at some point in the foreseeable future, propelling the cryptocurrency to a $130 billion market cap.
But with all that hype, it could be difficult to go beyond the chatter and think clearly. And on the flip side, it may look easy to buy a dog-themed coin and retrieve some of those gains you see on the screen. Be careful, though — chasing down that game could lead to Great Dane-gers.
Do you own any Doge? Or are you looking to buy if you’ve missed out on the red-hot beast-mode rally? Share your thoughts below and let’s spin up the discussion!
DOGEUSD trade ideas
DOGE USD According to the trendAccording to the trend on multiple time frames, This is showing a bullish pennant pattern. So again we will be patient and WAIT FOR A BREAKOUT because as we know reversals do happen.
$3 range by January 20This is less a technical analysis; more about the market and politics. It's eerie how DOGE is repeating its historical pattern.
If you know, you know. We–you and me–have been anticipating this pattern for years.
With the Department of Government Efficiency coinciding at this specific bull phase, it is so hard not buying into conspiracy ideas about invisible hands controlling the crypto market. That said, there seems to be some temporal proximity to the Inauguration Day and the next bullish movement. So I make this crazy prediction that we will see $3 by the Inauguration Day.
And I could be wrong. But I am okay with that because I believe that this is the beginning of the bull run. I don't care about the specific timing. We are months away from the new top. I can wait.
I have seen some estimates by so-called "gurus" putting $40 target by next year. The more skeptical folks won't predict anywhere above $3 for fixation on the market cap argument. That market cap argument seems like a popular one because we have been hearing that every bull cycle. But that's their loss.
Can we get to $20? I don't know, tbh. The market is bigger than me, no matter the size of my portfolio, brain, or pedigree. Nevertheless, I bet my money on what I believe is the historical pattern. I hope it works out for other people as well.
Let's see where this goes.
DOGE Fib spiral path to $4.2069Higher! Fib spiral is on its 3rd iteration of following the golden ratio and has broken recent resistance lines heading to fulfill the prophecy.
Prediction for this weekends DOGE movement.
History shows large moves in price action usually happen for Doge or crypto in general between Friday midnight and Monday noon.
The fact that we are seeing strong support that has been tested 7 times in the last 5 days @ .35. And the 30day/30min chart showing a bullish pennant pattern. I believe it is highly unlikely we fall below that current support level and are ready for a retest of the .45 level.
Dogecoin Lawsuit Against Elon Musk and Tesla ConcludesThe legal battle involving Elon Musk, Tesla, and Dogecoin has officially come to an end. Investors have opted to withdraw their appeal, effectively ending the lawsuit that accused Musk of manipulating the cryptocurrency market.
Originally, investors claimed Musk's social media presence and public statements, including a memorable appearance on NBC's “Saturday Night Live,” were strategic moves to inflate Dogecoin’s value for personal gain. The sought-after damages were a staggering $258 billion, as the complaint underwent multiple revisions over a two-year span.
However, on August 29, Judge Alvin Hellerstein dismissed the case. He reasoned that Musk's remarks, such as calling Dogecoin the “future currency of Earth,” couldn't reasonably be seen as fraudulent or manipulative. This week, in a significant development, investors have chosen to withdraw their appeal and dropped their motion to impose sanctions on Musk’s legal team for alleged misconduct.
In return, Musk and Tesla also withdrew their motion to penalize the investors' lawyer, labeling the lawsuit as “frivolous.” As a result, both parties submitted a stipulation to dismiss the case, pending final approval by Judge Hellerstein.
Technical Outlook
Despite the legal proceedings coming to a close, the price of Dogecoin ( CRYPTOCAP:DOGE ) remains largely unaffected. Currently, Dogecoin is down 1.66% in a consolidation phase. If any negative developments occur in the crypto market, Dogecoin ( CRYPTOCAP:DOGE ) might retrace to a support level of $0.31. Optimistically, some foresee a potential surge to $1, as reaching $0.41 isn't considered unrealistic for Dogecoin.
Moreover, some analysts suggest Dogecoin could eventually trade between $5 and $10, depending on the broader crypto environment. With a market cap of approximately $53 billion USD and a circulating supply of over 146 billion coins, Dogecoin is proving to be more than just a memecoin.
Conclusion
The conclusion of this lawsuit marks a significant chapter in the ongoing narrative of cryptocurrency regulation and celebrity influence. While the legal challenges have ended, the impact of this case may continue to resonate in discussions about market manipulation and the responsibilities of high-profile figures in the crypto space. As always, market watchers will be keenly observing how Dogecoin ( CRYPTOCAP:DOGE ) and other cryptocurrencies navigate these complex waters.
DOGE - Breakout of consolidation.Hello,
This is always an exciting time for DOGE. We are prime for a nice breakout of the consolidation at about $0.39 - $.420.
Here are three nice projections that illustrate 3 of the 4 major influences. Bearish and bullish Bulls, and one of the bears…. Still long range bullish.
Harmonic projections, fit to the levels, and aligned with the signature harmonic patterns as well.
Dotted are resistance turning to support, and solid a support, which turn to resistance.
Good Luck! Spread Love!
Doge Coin!
$doge pre-moon party?Doge is breaking out of a bullish wedge. The blue wedge means there is a long term uptrend incoming. If we can get some good volume coming in, and continued green candles on Bitcoin, I think there is a good chance doge will break past the resistance at 48 cents in the next few days
www.tradingview.com
Cut of tea with DOGE and then off to the moonNow that's a cup a can drink tea out of!
New trader. Don't really know what I'm doing yet so don't listen to me. Still trying to master impulsive decisions, and emotional decisions.
Sentiment around DOGE seems very positive in the past day or so with the price being above moving averages and yesterday (Nov 18th) having broke out of the the triangle thingy.
Following a slight correction.... coincidentally around my tea time, we have a cup and handle formation taking place. Once the handle has formed allowing sufficient time for the tea bag to steep we shall get into Elon's rockets for liftoff to the moon. Sometimes rockets malfunction so make sure you have your fire extinguisher nearby (stop loss).
In a parallel fashion it appears that BTCUSD is continuing to push to 100k at which point I fear might bring some darker clouds leading to a correction on the pair, and may ultimately pull the key alt-coins down with it (SOL, ADA, SUI, DOGE, etc...). You might be thinking that's total non-sense and I know not what I'm doing --> very true.
Drew a fib extension on the chart to give ideas of where the profit could be taking or where the trend may turn around.
Good Luck, Encourage!
DISCLAIMER: once again, I know not what I'm doing so don't consider the above as financial advice. I'm merely contributing to market sentiment around DOGE as of Nov 19, 2024.
Triangle breakdownHello you all would have seen the bull run I had predicted long time back ... Beware I am expecting a fall in crypto currency all, Are forming negative patterns at the top ... stay away from the trap
Gautam Khanna
GK trade Manthan
DOGE: 2024-2025 bull run.Looking at the previous pattern, some time before the end of the year Crypto bull run should peak. But usually it ends in December or April
Just take it as information.
Happy trading.
Doge bull flagPossible DOGE breakout to the updside. Bull flag has formed on the hourly and Fibonacci fan is nearing support zone.
2021 Doge Bull Market Vs Now2021 Doge Bull Market Vs Now.
Keep in mind the price discovery phase should shoot way past previous ATH...
Everyone else is bearish here, im super bullish. (btc could fck us though)
DOGE TO THE MOONDepartment of government efficiency coin is going to the moon.
$1 at least and not gonna stop there!
DOGE - $0.84 is imminentDOGE has been doing its thing and creating a bull flag over this past week and everyone knows it. only a matter of time before we get momentum upwards.
not trading advice
tjg
DOGE - THE ULTIMATE MEME - $2.41 - CryptoManiac101Here's a quick TA analysis based off a macro analysis with the usage of fractals.
1. Fibonacci Levels:
- The chart highlights significant Fibonacci retracement and extension levels.
- The price has respected key Fibonacci levels (0.236, 0.382, 0.618), indicating that these levels are significant support/resistance zones.
- The next major Fibonacci extension level is marked at 1.618 (1.3648), suggesting a potential target for bullish continuation.
2. Current Price Action:
- DOGE is trading near $0.3575, consolidating below a key Fibonacci level 0.786 retracement at $0.3181).
- This could act as a short-term support level, while resistance lies above at $0.4627 (Fibonacci level 1).
3. Trend and Momentum:
- Historically, DOGE has exhibited strong parabolic runs following consolidation periods. The current structure resembles previous accumulation phases, which led to significant price spikes.
- If the price breaks above the $0.4627 level with volume, it could signal a continuation toward higher extensions like $1.3648 and $7.8557 (2.618).
4. Downside Risk:
- If the price fails to hold above the 0.3181 level, the next support zones are at 0.236 (0.1214) and 0.1568 (0.382 retracement).
5. Med-Term Projection (~3 Months):
- The chart suggests potential for a large upside move based on Fibonacci extensions, provided macroeconomic and market conditions align.
- However, DOGE is known for high volatility, and these targets are speculative.
Actionable Insights:
- Watch for a breakout above $0.4627 with strong volume for confirmation of upward momentum.
- Monitor support levels at $0.3181 and $0.1928 (0.5 Fibonacci) for potential buy opportunities in case of retracement.
Remember that this not a financial advise and is for entertainment purposes only.
$1 the next target ? Doge needs to break the 0.43912 Resistance; once that break we should expect 0.50 , 0.60 , 0.80 and lastly $1
We seen XRP hit over $1 and now its Doge Turn to hit $1.
0.34000 , 0.3580 & 0.36673 became a support; all we need is a big breakout and the flag is created..
Once breakout happens and will be fine but big feeling 1$ is the target for longterm.
Please use your own proper risk management and analysis
DOGE: $0.23 | force is Strong with this One 1% of that $2T PLAYNARRATIVE: when it decides to cut $2Trillion dollars
that's a huge savings EARMARKED definitely a portion to the D.O.G.E facility and this one has
big whales aping in at every opportunity
$10bn cap should be decent as gift for saving 2Trilloin in gov bureaucracies
there are several DOGE Govt
and this one is the most forgiving with decent participant '
and liquidity for heavy hitters to come and go
for strong hands a savings account towards 100 days of the PRESIDENT and beyond
--
a proxy play to BiTCOIN correlated with highh beta
yet forgiving when relative to other memes shitcoins and even fellows at other chains
a proxy to MEME etf when Brock decides to issue one done thru ai16zs MIL:GOAT agents
a proxy to Political thematic issues like PNUT JORGiE etc..
Strategy: wait and Buy High
Can DOGE Repeat Its Legendary Rally?
DOGEUSD is currently in a strong bullish momentum, supported by multiple technical signals aligning in favor of the bulls. The Signal Builder previously flashed buy signals, which were followed by a consistent upward trajectory.
Key Factors:
Bullish Ribbon and Support Rebound
The price is decisively trading above the EMA ribbon, indicating a sustained bullish trend. Notably, the recent rebound from the critical support level at 0.060 acted as a launchpad for this upward move, confirming its validity as a strong demand zone.
TSI (True Strength Index) Confirmation
The TSI has not only crossed above the zero line but also established a pattern of higher lows, signaling increasing bullish momentum. Historically, this indicator alignment has preceded significant upward moves in DOGE.
Fibonacci Extension Targets
If we project the previous bullish wave onto the current setup, similar conditions suggest potential targets at 0.800 and 1.280, derived from the 1.618 Fibonacci extension. These levels align well with historical resistance and psychological thresholds, making them logical points for profit-taking.
The market structure and the current momentum favor continued bullishness, provided DOGE maintains its position above the EMA ribbon. Watch the price action near key levels for confirmation of further upside potential.
👨🏻💻💭 What do you think? Are we ready for another Doge rally? 🚀 Drop your thoughts and let’s ride the wave together!
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Doge - Indicators & FractalsHello,
The indicators MACD (top) and RSI ( bottom) on the hourly are both favoring bullish forecasts for the evening. Please sit back, take a deep breath of self love air, and enjoy the ride to higher altitude with Doge, the coin of Unconditional Love.
DOGE at a Crossroads – Four Scenarios to WatchHey trading family, let’s break down what’s happening with DOGE. Right now, the chart is setting up for some key moves, and here are the four scenarios I’m watching:
Break above $0.38: If this happens, DOGE could push to $0.43 and then test the $0.50 zone.
Break lower on the 4-hour: A retest of the $0.34-$0.33 zone is likely.
$0.34-$0.33 fails to hold: We could see DOGE correct further to $0.27-$0.25.
This is a make-or-break moment for DOGE. What’s your plan if we pump or if we pull back? Let’s trade smart and stick to the plan.
Like, comment, and share your thoughts! Got your own ideas or questions? Send me a DM – I’d love to hear from you.
Mindbloome Trading // Kris
Trade What You See.
My thoughts on DOGE’s future price actionThoughts? Lots of people about to get wrecked? This is about where Bitcoin and DOGE both dropped last time, right before the main Pump.
